Advice on investing in Nigeria’s renewable energy sector

Question: I have an energy consulting firm in the UK and I am toying with the idea of investing in Nigeria in the renewable energy sector – distribution and installation of solar panels for power generation. Could you please advise me on the steps I need to take?Submitted by Alph, United Kingdom

Answer:
Setting up a renewable energy factory in Nigeria is a wise investment at this moment. Nigeria, with a population of over 150 million, needs power to meet its daily needs – both industrial and domestic.

The first step is to get a consulting firm as a local partner. A company that will channel its energy to put all apparatus in place to ensure smooth entrance into the Nigerian market.

The Nigerian Government is scouting all over the world calling on investors to invest in Nigeria’s power sector. The market is so large and ripe.

Land is available within cities such as Lagos and Abuja. The manpower and skills are also available.

Lagos State would be interested in such an industry and we are ready to partner with your energy consulting firm to establish a renewable energy factory in Nigeria.

The truth is there are few smaller firms importing PV systems from China. They are not really cutting through, because they don’t know how to approach the market. The quality of the panels is another issue. If you are looking at generation, there are no corresponding grid systems to sell back to. I have been studying the market for some time. What will be sustainable at the moment is a replica of the the system in SE Asia whereby most of the rural projects are powered by off-grid solar systems. Another aspect is to develop it for home use through solar-modeled appliances. This could be revolutionary here. The potential of off-grid system not only limited to rural areas. In the metropolis, though most of the big companies are signing up for the various government Independent power projects what are the options in times of mounting electricity needs? They may serve as essential electricity backup systems for industries or companies. I want a project similar to that in Vietnam where there is value from the base of the pyramid; it is where the market will grow from. It requires not just capital but synergy. If you close your eyes and imagine about 120 million people who cannot afford 3 hours of light daily, that is the size of the market.

Ado Omar

I have been there, just came back from Abuja last Week .Was there for the Same reason to make some move.
Well wish you all the best.